Dry CargoGreater China

Pacific Basin has a vintage clear-out

Mats Berglund-led Pacific Basin is shedding a series of vintage vessels from its 81-strong handysize arm, steadily improving its average fleet age.

Multiple brokers tell Splash that the Hong Kong dry bulk player has sold the 20-year-old 32,800 dwt, Champion Bay for $3.8m. In April it sold the same aged 31,900 dwt Pacific Logger.

In total Pacific Basin has sold three ships since Covid-19 was declared a pandemic.

Pacific Basin said last month it is back in the market for buying opportunities, having paused its fleet growth plans in the early part of the Covid-19 pandemic.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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